BA to keep OpenSkies
12.12.09
British Airways will keep full ownership of its OpenSkies subsidiary after seeking outside investors. The airline created OpenSkies last year to take advantage of airline deregulation between the US and the Europe. It began running services between Paris and New York last summer.
Early last month received five bids from European and US private-equity firms to invest in or buy the small operation, Dale Moss, head of the Paris-based unit, said in an interview. After assessing the proposals and the unit's performance, BA decided not to accept any of the offers, he said. Mr. Moss declined to disclose financial details of the bids, or which companies made the offers.
In a statement to Reuters BA said: ‘We have no plans to sell OpenSkies or seek third party investment in the airline. OpenSkies is a high quality premium airline that remains of strategic and financial value to us. Its Paris-New York flights are performing well, despite the current economic environment, and customer feedback is very positive.’
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